3,338 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,338 shares of the business services provider's stock, valued at approximately $987,000.

Several other institutional investors have also recently bought and sold shares of the stock. Sentinus LLC boosted its holdings in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC boosted its holdings in Automatic Data Processing by 2.4% in the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock valued at $478,000 after acquiring an additional 37 shares during the last quarter. Main Street Group LTD boosted its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after acquiring an additional 38 shares during the last quarter. Finally, Howard Financial Services LTD. raised its position in Automatic Data Processing by 2.2% in the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock valued at $530,000 after purchasing an additional 38 shares during the period. Institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

ADP has been the topic of several research reports. Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research report on Thursday, July 10th. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley boosted their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $309.62.

Automatic Data Processing Stock Performance

ADP stock traded up $1.85 during midday trading on Thursday, reaching $302.12. The company had a trading volume of 1,313,820 shares, compared to its average volume of 1,708,140. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $312.79 and a 200 day moving average price of $303.97. Automatic Data Processing, Inc. has a fifty-two week low of $244.65 and a fifty-two week high of $329.93. The firm has a market capitalization of $122.64 billion, a PE ratio of 30.92, a P/E/G ratio of 2.73 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.88 earnings per share. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.